10 reasons why you should not use a PPI claims company!
By and large unless you are lazy, ill or have no time then you should make your own PPI claim rather than employing a PPI claim company. Here’s why …
- You can do it yourself for free – why pay someone for what you can easily do yourself
- It’s not complicated
- Claims companies are treated no better than individuals in making claims
- Many claims firms use similar templates to ones freely available on the internet
- Fees are very high – often 25%, plus VAT, of your refund. If you get back £1000, £300 could go to the claims management company
- Beware using claims companies if you are in arrears. Often banks will use the money to clear or reduce the debts. You won’t get the money but still have to pay the fees.
- Never pay upfront, if you have to use a claim company stick with no win, no fee.
- Beware companies that charge on future refunds – the charges are enormous!
- Once you sign up, you may need to pay the company even if you decide to do it yourself.
- It’s hard to get redress against rogue PPI claim firms.